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Tupperware Brands profit misses consensus by 16.4% in fiscal Q1

Tupperware Brands Corp. said its normalized net income for the fiscal first quarter ended March 28 came to 82 cents per share, compared with the S&P Capital IQ consensus estimate of 98 cents per share.

EPS fell 22.2% year over year from $1.06.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $41.3 million, a decrease of 23.4% from $53.9 million in the prior-year period.

The normalized profit margin declined to 6.1% from 8.1% in the year-earlier period.

Total revenue decreased 12.3% year over year to $581.8 million from $663.2 million, and total operating expenses decreased 10.5% on an annual basis to $505.0 million from $564.5 million.

Reported net income fell 43.1% on an annual basis to $29.7 million, or 59 cents per share, from $52.1 million, or $1.02 per share.